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Fraudulent Transfers
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Fraudulent Transfer Questions Cast Doubt on Oxycontin Settlement

A tentative settlement involving Purdue Pharma, the maker of Oxycontin, received great fanfare in the media, with the company claiming that it will pay at least $10 billion “to address the opioid crisis.” That figure may seem astronomical, but critics and the attorneys general of numerous states say the agreement rests on misrepresentations about the Read More

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Understanding Creditors’ Options When Enforcing Judgments

Whether you’ve won a legal case, performed professional services or leased commercial property to a tenant, collecting the payment often proves to be the toughest part of the task. Even for undisputed debts, strict laws exist to ensure that creditors use proper legal collection methods. This is particularly true in complex debt collection matters and Read More

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Fraudulent Intent Not Always Necessary to Unwind an Improper Transaction

Creditors may use Illinois’ Uniform Fraudulent Transfer Act (IUFTA) to recover funds improperly shifted by a debtor to a third party. Although “fraud-in-fact” claims require proof that the debtor intended to defraud creditors, creditors may also pursue “fraud-in-law” or “constructive fraud” claims, which do not require evidence of intent. Gecker v. Estate of Flynn provides Read More

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Unwinding Fraudulent “Estate Planning” Transfers

The lack of reasonably equivalent value in return for the transfer of an asset common indicates that a fraudulent transfer has occurred. However, estate planning commonly involves transfers of significant assets to trusts or to loved ones without reciving any value in return, other than the transferor’s satisfaction from sharing his/her life’s wealth with loved Read More

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